As inter-state competition arises in the fields of politics, the economy, and the military, the balance of power in the international community is changing in an increasingly rapid and complex manner, while uncertainty over the existing international order is growing. Japan is tackling a range of issues, particularly in the economic sphere, that include the changing structure of the domestic and global economy, the rise of protectionism, and trade conflicts. This year marks the tenth year after the Great East Japan Earthquake and the reconstruction of the affected areas needs to continue. Japan has advanced initiatives with the aim of further accelerating the promotion of economic diplomacy as one of the priority areas of Japan's diplomacy, centered around the following three aspects: (1) rule-making to bolster free and open global economic systems by promoting the various economic agreements; (2) supporting the overseas business expansion of Japanese companies through promotion of public-private partnerships; and (3) promoting resource diplomacy along with inbound tourism to Japan.
Securing and promoting Japan’s national interests in global economy
Japan faces a myriad of economic and social challenges ranging from decreasing population, aging society to financial deficit as well as rapidly changing international environment. Against such backdrop, it is critical that Japan advances foreign policy agenda in order to strengthen its economy. Key diplomatic priorities include the Economic Partnership Agreement (EPA), energy and critical minerals, food security and supporting Japanese corporate activities overseas.
Creating international rules and promoting policy coordination among countries
Promoting trade liberalization and investment is imperative for ensuring sustainable growth of global economy let alone Japan’s own economy. Maintenance and strengthening of the multilateral trading system under the World Trade Organization (WTO) remains a critical agenda as it prevents protectionism and enhances legal stability and predictability of international trade. Japan also takes various initiatives both bilaterally and multilaterally to protect intellectual property rights.
- G20 (Summit on Financial Markets and the World Economy)
- World Trade Organization (WTO)
- Organization for Economic Cooperation and Development (OECD)
- Asia-Pacific Economic Cooperation (APEC)
- Intellectual Property
- Generalized System of Preferences (GSP)
- Government Procurement Information
- World Economic Forum (Davos conference)